Pfizer Inc. (PFE) has an interesting technical set up. The stock recently created a double bottom at approximately 23.25 after a steep downtrend that started in early June. With Friday's action, PFE is starting to break the neckline in relation to the double bottom.

This neckline break indicates bullish potential for PFE. Furthermore, there is a downside gap from June 18 that PFE is putting some pressure on. If PFE manages to push above 25, there's some definite gap fill potential.



The only thing this setup lacks is volume. Volume is extremely important on a neckline breakout when dealing with double bottoms. The fact that PFE is lacking volume deters from the attractive set up, but I still like what I see.

Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.